Collateral public good (was Re: [extropy-chat] Noisy future day etc..)

[Brett Paatsch]

Hal Finney wrote:

> Robin writes:
>> Problem is, the sort of markets can't generate enough revenue to
>> pay such a high cost.  So the idea is to bring down the cost.  The
>> lower the cost, the more chances a market can pay that cost.  And
>> so the "more" legal such betting becomes.
>
> Part of the problem is that the benefits of the market are distributed
> and do not return only to its creators.

I don't see that as necessarily a problem Hal. Why do you?

I'm beginning to wonder if *I* am mistaken, or if those that are
also interested in the futures market idea don't fully realise what
the potential is.

>  Anyone who can see the market
> prices gains value from this information about the future.  In that sense,
> running a futures market is a public good.

I could accept a little collateral public good. Hey call me old fashioned.

>It is no wonder that such markets are under-provided in our society.

Cynicism Hal?

Brett Paatsch